New York § 2905 Acting without a license

New York Statutes

§ 2905 — Acting without a license

New York § 2905

Law ISCInsurance

Art. 29Pharmacy Benefit Managers

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Bluebook

N.Y. Insurance § 2905 (2026).

Text

§ 2905. Acting without a license.

(a)No person, firm, association,\ncorporation or other entity may act as a pharmacy benefit manager on or\nafter January first, two thousand twenty-four without having authority\nto do so by virtue of a license issued in force pursuant to the\nprovisions of this article.\n (b) Any person, firm, association, corporation or other entity that\nviolates this section shall, in addition to any other penalty provided\nby law, be liable for restitution and compensatory damages to any health\nplan, pharmacy, covered individual or other person harmed by the\nviolation and further shall be subject to a penalty not exceeding the\ngreater of (1) four thousand dollars for the first violation and ten\nthousand dollars for each subsequent violation or (2) the aggregat

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§ 2905. Acting without a license. (a) No person, firm, association,\ncorporation or other entity may act as a pharmacy benefit manager on or\nafter January first, two thousand twenty-four without having authority\nto do so by virtue of a license issued in force pursuant to the\nprovisions of this article.\n (b) Any person, firm, association, corporation or other entity that\nviolates this section shall, in addition to any other penalty provided\nby law, be liable for restitution and compensatory damages to any health\nplan, pharmacy, covered individual or other person harmed by the\nviolation and further shall be subject to a penalty not exceeding the\ngreater of (1) four thousand dollars for the first violation and ten\nthousand dollars for each subsequent violation or (2) the aggregate\neconomic gross receipts attributable to all violations, as determined by\nthe superintendent at a hearing.\n